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tv   Lou Dobbs Tonight  FOX Business  March 18, 2013 10:00pm-11:00pm EDT

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♪ your finances can't manage themselves, but that doesn't mean they won't try. bring all your finances together with the help of the one person who can, a certified financial planner professional. cfp -- let's make a plan. gerri: our question tonight, it you trust your bank? 56% say yes, 54% said no. a rare split. you kno it don imus this morning accused me of scaring him to death of the cyprus story. said it couldn't possibly have
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been in the u.s. but things have been the banking industry i never thought could. for example, she told no one of the biggest banks would face rent by depositors be taken over by the fed and sold off, i would have said no. but that is what happened during the financial crisis, that was the biggest bank bust ever. the second happening to me before, cut central illinois. david depositors standby? no, there was a run on the bank. hundreds went belly up in the mid-80s. don't tell me bad things can happen to banks because we know it can. yes, you likely have federal guarantees on money in your bank in the form of deposit insurance but so do the bank customers. although i would love to tell you nothing is wrong and you should ignore all of what is going on half a world away in cyprus, you can't because i have seen the bad things that can
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happen and what i say is this, fasten seat belts, it could be a bumpy ride. that is it for tonight "the willis report." ddr the show if you can't catch us live. we will see you righghghghghghge tomorr. lou: good evening, everybody, thank you for being with us. we begin with our liberal presidenpresident putting fortht radical nominee for a cabinet post since he became president four years ago. president obama officially ending weeks of speculation and formally nominating justice department official tomas perez to be the next secretary of labor. his nomination is controversial and repugnant. they say he has a radical-ish on records from immigration and liberal laws to voting rights. not to mention president obama already in a constitutional
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challenge to his choices to sit on the national labor relations board. they're taking its fight all the way to the supreme court after a d.c. appellate court invalidated the recess appointments made when the senate wasn't in recess. the senator has vowed to block the nomination. other stories we are bringing you tonight, wall street shrugging off a botched european union bailout of banks and an unprecedented tax on the deposits in cyprus, a tiny nation of 1.1 million people that will cost investors hundreds of billions of dollars in market capitalization. the dow jones industrial average down more than 100 points earlier but rebounded losing a modest 62 points. the s&p fell nine, the nasdaq down 11 and a half. the market off of the lows of the day. officials revising the imprudent
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and unreasonable plan to seize money from bank depositors to pay for the eu bailout. much damage has been done and some investors are so shaken, they will take their money out of the banks at their first opportunity, which is now thursday morning. international monetary fund and central bank are embarrassed, which doesn't solve the insolvency problem. negotiators around 150 nations from new york city trying to negotiate a binding treaty that would end unregulated arms sales. the arms trade treaty president obama now says he supports. thnational rifle association promises to strongly oppose that treaty saying it will lead to national gun registry and undermine americans second
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amendment rights. president obama's nomination to the next labor secretary, perez is regarded as a radical far from the mainstream. fox news chief washington correspondent with our report. >> to lead the department of labor at this time of high unemployment, president obama nominated tom perez, in the justice department's civil rights division. speaker tom has worked to open pathways for everybody willing to contribute. including people with disabilities, and immigrants. and he has helped settle some of the largest cases ever on behalf of families targeted by unfair mortgage lending. >> the son of dominican immigrants, he was a staff wyer to ted kennedy and labor secretary for the state of maryland. >> i'm confident with the
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business community, grassroots, independence alike, makg progress for all working families. >> som business leaders like the mid-atlantic construction employer voiced fears perez will act as labor's prosecutor in chief. >> i don't think somebody who has a vast set of experiences, a lawyer for a government employee, those folks never work out very well for understanding what we do for a living. >> republican senator of louisiana followed to block the nomination, and doj inspector general said it has been plagued before and during the tenure by polarization and mistrust comic issue was the testimony before the commission that investigated the offense 2008 voter intimidation case involving these members of the new black panther party.
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we did not find perez misled the commission but added perez's testimony did not reflect the entire story involving the involvement of political appointees. speak of the inspector general found mr. perez took a number of steps to foster a more professional workplace. >> he fended off questions on why barack obama, for certain american president, has been named in the african-americans to the cabinet for his second term. the cabinet remains not yet filled and the president remains committed to diversity. lou: what is your judgment, your best estimate as to whether or not perez wins confirmation? >> certainly the nomination shows the discovery process leading up to the senate vote can lead to surprises. absent that, it would appear the math on the senate floor line with the democrats in the white house, but they may be
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able to use this opportunity as they have with past nominations to extract answers from the administration on a number of issues including benghazi and others. lou: appreciate it. chief washington correspondent. the republican par is in turmoil and it is divided in ways many of its leaders don't like to acknowledge, but others are now trying to be honest about it all and try to begin healing the party laying the foundation if they can for victory in 2014. republican national committee has taken an important first step in the report they have put forward is unexpected in the tough-minded assessment. chief political correspondent has the report. >> our message was weak, our ground game was insufficient, we weren't inclusive. >> about 36,000 surveys of voters and activists nicknaming their findings and autopsy.
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>> they describe it as narrowminded, out of touch and stuffy, old man. >> minorities and women led the study. >> they will close their ears. >> they recommend a comprehensive immigration reform with a path to legal status for the illegal aliens already here with warnings from the weekend political action conference. >> if amnesty goes through, no republican will win another national election. >> perceptions of the g.o.p. are so bad, they will never win back the white house without more inclusive policies in general. >> we have to make sure young people don't see the party as intolerant and unaccepting of alternative points of view. >> already there is a generational difference within our movement about issues that
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involve the treatment and the rights of gays. >> we have to improve our effort of medicating with women voters and better represent some of the unique concerns female voters may have. >> it also calls for revitalized field organizers in the grassroots, modernization of technology with the headquarters silicon valley and fewer debates and an earlier convention. >> we know we have problems, we have identified them and we're implementing the solutions to fix them. >> to implement any primary changes, the republican national committee days the cooperation of states and democrats. and it is reopening old g.o.p. rifts of amnty. lou: thank you very much.
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more on the future of the republican party coming up here next. republican party trying to figure out what it has done wrong for two presidential elections, we will have the report. really bad politics, sean matthews joins us to tell us what is
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lou: we will be talking with cantor fitzgerald ceo here in just a moment, we will be talking about what happened to the market overnight and during this rather volatile session today. but first, let's turn to the market and bring you up to date on what happened with
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wall street. a third consecutive dip in homebuilder confidence costing a few points on walltreet, the dow down 62-point, s&p slipped eight, the nasdaq down 11, the big board volume tapering off 3.1 billion shares to date, the bond market attracted some money driving interest rates lower, treasury 10-year dropping 1.96%. it is trading right at a five-year high despite the widely known troubles with the 787dreamliner which appears to be nearing some resolution. reports they will announce a large sale of 170 aircraft, we stock a nice news slightly lower in after-hours trading, tensions driving gold up $4 per ounce, crude oil up $0.29, how about that.
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a federal grand jury has indicted the former head of california's public employee retirement system, the nation's largest pension fund on charges of bribery and influence peddling. the alleged former ceo in one of his business associates fabricated financial documents could dupe the investment firm into paying $20 million in fees for investing $3 billion worth of his money. when he was charged with five counts including fraud, wire fraud making false statements and obstruction of justice. our next guest says we should see a pause in the market as they soared to record heights. sean matthews, good to have you here. let's start with the nonsense.
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what was your reaction as you heard, and i love the expression, giving depositors a 10% haircut. >> i was shocked when i heard the news, all of a sudden you become an equity holder in the bank, it is a little bit difficult to keep your money in those institutions, the real issue is the knockdown effect. what happens when other countries start to feel like that is a possibility for them as well. lou: you have to think those people will get the money out of their no matter in talks revise the idiotic conditions of this payload. but we will see, you would
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suppose they would take the money and run thursday morning. >> without question they will take their mey out, but a little bit of a knockdown as they begin to prepare for the unexpected, that is the problem, you can't put the genie back in the bottle right now. lou: the market down, but wall street took up pretty well. it is expected after what had happened to find out the european central bank, the european commission and the international monetary fund can be just as dumb as long been believed by many in this instance it is understandable. but it was a pretty strong performance given everything. >> if money starts to look for a safe haven, the u.s. dollar and the u.s. economy and u.s. institutions are the safest in the world and will be a beneficiary.
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lou: we watched eight straight records on the dow. 10 straight wins on the dow. but this has been an impressive performance. if it time to say we will see you in four or five points from here, i would look at prospect of a crection, what do you think? >> we have gone pretty far, pretty fast. in an interest rate environment. look at itfrom a relative basis, so that the equity market is pretty interesting place to be. we really haven't seen for a while.
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lou: we will get some indications on the housing market, we will look at building permits primarily, what are you expecting? >> still think the housing market is in pretty good shape, but if you look at the opportunity out there, seeing some places the housing market is doing pretty well, seeing a lot of the excess capacity in the marketplace, in a zero interest environment, a fair amount of the pacity, investment classes come in and actually bought up a fair amount of those equities. are we going back to the old days, absolutely not. lou: sean matthews, good to have you with us. now to the weekend talks office
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where "oz" continued to dominate, the prequel t"the wizard of oz." easily taken the number one spt for the second weekend in a row. warner bros. failed to live up to the title debuting at $10.3 million. nielsen will relate sunday ratings tomorrow. you're likely to see "the bible" definitively on top. that remarkable series averaging a stunning 12 million viewers each evening. quite a success story for the history channel. we will have it for you tomorrow night to bring you up-to-date on it. two high school foball players convicted of rape.
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robert shapiro will tell us about that case care in the community apart and it is a community that is sure to see more tension and strain and tragedy. a scathing analysis of itself, but does the old garden have a clue? clue? today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines
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lou: when it comes to the future of the rpublican party, branding is a big deal. a new poll shows voters supporting a budget plan by a 2:1 margin. they plan very similar to that ryan proposal. yet when asked which party they trusted more on budget issues voters trusted the democrats by 35%.
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it is a bigger margin than the margin of victory for president obama in november. the republicans 30%. that is on trust, that is as they say in the trade a big deal. the national republican committee today issued a scathing self critique of the republican party recent failures focus groups describe republicans as narrowminded, out of touch. $1.2 billion last year in the last presidential election alone and the future of the g.o.p. understanding you can't get it done just with money.
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as a result, the republican national committee has decided to pour resources into its ground game targeting youth and women and hispanics and other minorities while focusing on making the party's message more inclusive and open to different views. i don't know what they paid for the study, but that is kind of vague, don't you think? he had this to say to me last year. >> we can have all the voter contact in the world, but if it is not over a long period of time, it is not going to work so what we saw was mitt romney ran a pretty good six months operation, but six months operations don't work very well against for your operations. lou: nobody had ever been in that situation before running against an incumbent. i like the fact republican party
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is looking critically and being pretty tough on itself in this report, but i have to be h honet with you, the republican solutions for boosting grassrootsts support is the rnco build a database of leaders. could you imagine such a thing? we need a database of leaders, the african-american, asian pacific islander communities. how about a database of the hispanics, blacks, the people of this country, get that database, to the heck with the leaders, you're talking about becoming leaders, through reaching out to those communities and seeking out the next generation of leaders in those communities.
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republicans should be, they said in this new report, speaking out when the ceos get big bucks. when they receive lots of money in retirement but the middle class gets shafted. folks, i said a year and a half ago on this broadcast which ever party focuses on the middle class of america and those who aspire to it will win the election, and guess what, i didn't charge anybody for that comment was straightforward, commonsense. i would like to see the g.o.p. use common sense, and i would like to be honest, all about conservatives, and guess what, the youngest people in the republican party seem to be conservatives. they have marco rubio, the ran d
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paul. republicans want women to hear their motives. women to hear their motives. i have to say, what are you going to say, you want their vote and you want them to understand how you you're goingo create a better community. i think you need to put together that idea that maybe the republican party will be run less by the business roundtable and the chamber of commerce and more by middle-class americans who want a better future for our families and for our nation. just a thought. >> the president's choice to lead the labor department is
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controversial and radical. our "a-team" will tell us if thomas perez can get the force back to work. eight hands, $43 million, the story of a storybook casino heist that looks a lot like a movie, but it is oh, so real. everybody who stayed silent on the rape of a 16-year-old girl faces the prospect of charges. and the trial underway again, leaving defense attorney with us leaving defense attorney with us the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone but her... no. no! no. ...likes 50% more cash. but i don't give up easy... do you want 50% more cash? yes! yes?! ♪ [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase,
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lou: the supreme court today heard arguments on whether the state of arizona can require people registering to vote in federal elections to show proof of citizenship. several justices questioning whether the erro there is a pron
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trumps federal law. whether a citizen is sufficient. a ruling is expected by the end of june. joining us tonight, civil litigator and senior partner in a los angeles-based law firm. good to see you, we appreciate you being with us. let me ask you first and the supreme court's decision before we move the trials that are just extraordinary, in the drama and tragedy, the supreme court now whether or not a state can require identification for the voters, what is your sense of what t court is thinking and what the outcome will be. >> it is always very difficult to see what will be in the minds of justices on the supreme court, so in a case like this, federal law is going to be up
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against state law, the likelihood in my view is federal law will be controlling. lou: arizona will end up not being able to go beyond that very narrow requirement. >> i don't think they will be able to, but you can never tell, nine justices, usually they go 5-4, but i don't think this is going to go that way. when you're dealing with federal rights versus states rights, my personal view is that federal law should be the one that will trump in this case. lou: were found guilty of raping a 16-year-old girl while a large number of people apparently witnessed the crime, or crimes
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as a matter of fact, it did not step forward, did not try to intercede, for the facts of the cases we now know. >> effect the facts of the casee horrendous, they are unconscionable. to humiliate in any way a young woman in the way these people did, and then for other people to take photographs of it, to tweet about it, to use the word rape in a fashion that is so much to any kind of civility to me it's just shocking and i think quite frankly these two young men are very fortunate had that been in california for the most likely outcome is the prosecutor would refer this to adult court and retreated as
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adults. you have one young man, 17 years old, if he was 18 a teen, it automatically goes to adult court, so that part to me that she got a break and kept in a funeral system of justice. lou: a grand jury will be meeting to see if anybody will face charges including coaches who apparently had some knowledge of this or at least alleged and did not act and under ohio state law, they're required to do so, but basically the attorney general who is one of the countries first class public servants who will be charged if that is what the grand jury finds, your thoughts.
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>> what we are seeing is a reaction to what happened in penn state but should have reported a crime did not. there will be a distinction legally in every state you have laws for certain professionals are required to report crimes and as he said it is my understanding in ohio a faculty member is required to report a crime. there is no obligation i know of anywhere in the world that requires a civilian report a crime, nor is there any report of the victim. lou: very little discussion about the owners in which of these crimes took place, one wouldhink they would have immense liability in this. >> they have civil liability
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beginning with serving alcohol or allowing alcohol to be served to a minor, not providing proper supervision, these are serious, serious things. there is only one thing that is good coming out of this, tt is this country is talking about it and people are getting the message, especially young men that only does no mean no, but anyone who is not capable of giving consent. lou: i think there is sething else very positive coming out of it, a 16-year-old victim will not have to endure what those young men at penn state had to endure, silence in all that occurs because they do not express their pain, the humiliation as result and hopefully this will be a good foundation for this young lady
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going forward. >> i hope you're correct about that, but this is such a dramatic effect on anyone and let alone a woman of this age that will be public. lou: you look at those young men at penn state, god knows the last thing anybody wants it and they do have to endure this but the fact of the matter is she now has an opportunity to know she is the victim, that won't happen, i have to leave it there to be continued. if you'd like to be a part of our daily discussion, join us on social media, find the links and you can e-mail me.
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and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. lou: this breaking news just in, colorado governor says he will sign legislation wednesday banning ammunition magazines larger than 15 rounds. last week along with several other gun-control measures the magazines that a magazine maker will most likely now move to state of of colorado, they confirmed this last week if
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legislatiothelegislation is sigl move. no word on what state they will be headed to. they have quite a few offers, believe me. gushing about the relationship with our president, this is house speaker joh john boehner. >> we are open with each other, we're honest with each other, but we're trying to bridge some big differences. >> do you trust president obama? >> absolutely. lou: saying it was more of a looming crisis. the ncaa march madness tournament is set to tip off tomorrow between a couple number 16 seed, liberty university and north carolina. the four number one, louisville,
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kansas, and say that and india indiana. no matter who cut down the net at the end of this tournament the real winners are cbs and turner sports. the report shows cbs and time warner sports took in more than a billion dollalars in ad sales revenue during the tournament last year. the 2012 nfl playoffs and super bowl brought in a lousy $976 million. the nba last season brought in justbout half of that in ad revenue. oceans 11 style heist costing the largest casino more than $33 million, high-stakes gambling and an accomplice scanned the hotel and casino by hacking into the security cameras. signaling the gambler on how to bet and went bet and all they
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lou: joining me now, the "a-team."
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let's start with you. this self-examination by the republican party. are you moved by their honest, critical judgment? what are your thoughts? >> i really want to cheer on the rnc chairman for making an effort to try and say straight out some of the demographic liabilities and challenges the party has been trying to assemble a national coalition to win the white house. if you look at what president obama did to fire up his old voters, find new ones replace the ones who lost and try and make sure he took advantage of really take advantage of across the spectrum coalition with many different groups to try to defeat mitt romney when he was an unpopular president, very tough
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economy, they lost asian voters, latino voters, african american voters, young voters, gay voters, it doesn't matter, it is a challenge and is good they will face it head on. lou: the republican party last year forg there is a grassroots organization. you can't just be a branding organization, you can't just be a fund-raising mechanism although they were very good at it, you have to have members and people who go to the polls and vote, that seems to be what they touch upon their operation. grassroots. >> no understanding of changing demographics, and no changing nature of american politics. if it was really all the way on the right with social nservatives, they would have won the election.
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the midwest is changing, they are exaordinary and they don't know how to counter them. one of the state level, one on the federal level. >> i think it is sort of overdoing it. doing this publicly, there was nothing that i didn't know or suspect. i didn't know what waso be gained, why do your dirty linen in public. the other thing, what is not said in here is barack obama is republicans biggest problem. he i the greatest vote-getter, and for john mccain and mitt romney not very good candidates coming up against barack obama who happens to be a terrific vote-getter and without barack obama, the field is much more level than it looks right now. lou: there is something treacherous about having the principal element of your strategy the absence of it.
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they will examine it in greater detail, and try to figure out by tom perez, and absolutely radical left winger will be the labor secretary. it appears. girl vo: i'm pretty conservative. very logical thinker. (laughs) i'm telling you right now, the girl back at home wod absolutely not have taken a zip line in the jungle. (screams) i'm reallylad that girl stayed at home. vo: expedia helps 30 million travelers a month find what they're looking for. one traveler at a time. expedia. find yours.
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lou: tom perez, controversial, radical. to republicans. does he get confirmed? let's cut to the quick. >> not probably so. >> what do you think? >> after chuck hagel was confirmed as secretary of defense, and john brennan to head cia, this is not going to reach radar screens of m most americans who are thinking about their summer plans, or their
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bracket, they are not focused on this. he will get through, republicans will long their complains and they should. should. lou: all pro forma. >> yes. lou: small potatoes say you. >> a small man for a small job. lou: going back to the republican party, it fascinates me, to see a pty, publicly trying to figure out who they are, and they are going to do here, when you think about the republican party, can they get ready in time to win 2014. >> president, one thing he is intent on doing is taking back house on 2014. lou: i'm not worried about him being ready. >> the problem is they are not ready to confront that. u: amy? >> i think that the republicans are veryl